UK SELF STORAGE INDUSTRY REPORT 2023

REASONS FOR USING STORAGE People use self storage for a range of different reasons, which is one of the strengths of the industry. It is not reliant on one single activity or event. As we know, many use self storage during life changing moments, such as a death in the family or divorce, which continue to occur regardless of the economic or political conditions. The residential market contributes the largest number of customers, totaling 36%. That said, decluttering was down from 4% last year to 2%, which could be indicative of the recent slowdown in the housing market owing to the cost of capital and inflationary pressure on disposable income.

Of these, 32% of customers have previously used self storage, either their current facility or another business. Repeat business is a large part of the industry. This further reinforces the concept that once people experience self storage they better understand and see value in it and are likely to continue using it when the need arises.

SELF STORAGE

ANNUAL REPORT 2023

PERCENTAGE OF THOSE WHO HAVE USED SELF STORAGE BEFORE

20 25 30 35

0 5 10 15

8.8 %

8.5 %

23.7 %

32.2 %

NO ROOM FOR ITEMS AT RESIDENCE

USED THIS AND ANOTHER PROVIDER

USED THIS PROVIDE BEFORE

USED ANOTHER PROVIDE BEFORE

USED EITHER THIS OR ANOTHER PROVIDER BEFORE

%

I’M MOVING & I AM BETWEEN PROPERTIES AT THE MOMENT

I HAVE RECENTLY HAD AN IMPORTANT LIFE EVENT (e.g. birth of child, marriage, death, inheritance, seperation, divorce, etc.)

35

I NEED TO CREATE MORE SPACE AT HOME

MY HOME IS BEING DECORATED OR RENOVATED AND I NEED TO STORE MY BELONGINGS WHILE THIS IS BEING CARRIED OUT

30

I’M MOVING AND DON’T HAVE ENOUGH SPACE IN THE NEW HOME

25

I NEED TO DECLUTTER MY HOME TO SELL IT

20

15

I AM DOWNSIZING MY HOME AND NEED THE ADDED ROOM

10

5

2 %

30 %

26 %

1 %

12 %

11 %

8 %

8 %

0

%

P. 78

P. 79